Nearly half (48 per cent) of Americans say their expenses are equal to or greater than their income.

38 per cent of those that spend more than their income have volatile incomes, meaning their income varies month to month.

More than one quarter (26 per cent) of Americans say they have volatile incomes, with 86 per cent of that group indicating that their financial situation causes them stress.

25 per cent of Americans say they have too much debt, with 96 per cent of those reporting that they are financially stressed.

Only 46 per cent of those living in rural areas spend less than their income, while a larger portion (53 per cent) of city dwellers spend less than their income.

25 per cent of those ages 18-25 have less than one month of readily available savings.

54 per cent of those 18-25 have expenses that are equal to or more than their income.

48 per cent of 18-25 year olds are only slightly or not at all confident they’re taking the steps for have enough money for the long term.

CEO Jennifer Tescher

“It is clear that income volatility and mounting debt are two of the biggest stressors that work against the financial health of many Americans,” said Jennifer Tescher, founder and CEO of CFSI. “Their financial health depends on climbing out of debt, planning for the future and living within their means when possible. There’s an opportunity for banks, fintech companies, credit unions and other providers to provide meaningful solutions and guidance that supports increased financial stability nationwide.”

A two-time LendIt Journalist of the Year nominee and winner in 2018, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.

"The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."